ANNOUNCEMENT 11 Jul 2019
The Australian government-funded Clean Energy Finance Corporation has announced the allocation of AUD 70 million to Cromwell Property Group.
NUMBER OF INTERVENTIONS
Clean Energy Finance Corporation. Media. "Canberra landmark gets second life as state-of-the-art seniors living village" Available at: https://www.cefc.com.au/media/files/canberra-landmark-gets-second-life-as-state-of-the-art-seniors-living-village/
Australian Government. Department of Industry, Innovation and Science. Australian Industry Participation. Available at: https://industry.gov.au/industry/IndustryInitiatives/AustralianIndustryParticipation/Pages/default.aspx
On 11 July 2019, the Clean Energy Finance Corporation (CEFC) of Australia has announced the allocation of AUD 60 million (circa USD 42 million at the time of the announcement) to LDK Healthcare a joint venture between Cromwell Property Group and Aspire Group.
The objective of the resources is to develop the LDK Greenway Seniors’ Living Village, a sustainable senior's living project in Canberra.
The new construction will count with energy-efficient lighting and smart controls, high-efficiency heating and airconditioning, over 700kw of solar PV installed on rooftops and parking areas as well as highest quality insulation, which are expected to halve greenhouse gas emissions when compared to current buildings.
The Clean Energy Finance Corporation financing is subject to the Australian Industry Participation (AIP) policy. This framework states that all programs enclosed in this policy must encourage the participation of Australian companies in major public and private projects carried in the country. In this sense, companies applying for a CEFC credit line must provide an AIP Plan to demonstrate the strategy to maximize opportunities for Australian industry to participate in the project. Therefore, it can be understood that the AUD 60 million (circa USD 42 million) finance allocated to LDK Healthcare is subject to local content requirements.